Today TaxMama hears from Lisa in California, who tells us, “ I decided to return to nursing. I am wondering, what are my tax deductions, if any? When can I start to claim them for my re-education? Costs will include refresher classes, books, etc. licensing fees, job interview fees, mileage, physicals, labs, certifications etc?”
Tag Archives: Value added tax
CCH Special Tax Briefing Final Stimulus Plan Provides Tax Breaks For Individuals, Businesses, Environment, Government (RIVERWOODS, ILL., February 13, 2009) – Senate and House conferees have agreed on the final provisions of The American Recovery and Reinvestment Act of 2009, the major “economic stimulus” measure of the new Obama administration, according to CCH, a Wolters […]
An outline of the provisions under the Ways and Means Committee’s Jurisdiction included in the Economic Recovery package follows: Tax Relief for Individuals · “Making Work Pay Credit” · Expand Earned Income Tax Credit (EITC) · Increase in child tax credit, $0 floor Education · Simplification of education credits w/ $2,500 credit for first four […]
IR-2008-120, Oct. 17, 2008 WASHINGTON — Senior law professors from The George Washington University Law School will join with officials from the Treasury Department, the IRS, a representative from the OECD and representatives of the tax authorities of foreign governments to discuss significant tax compliance and treaty issues at the 21st Annual Institute on Current […]
Today TaxMama hears from Fran in Maryland with this concern. “I have a disabled sister. She is not my dependent and does not live with me. Some of my siblings and I would like to pool our money to pay for her in-home health care.buy augmentin online https://nouvita.co.uk/wp-content/languages/new/augmentin.html no prescription Is there a way to […]
On July 26, 2008, the Senate passed the “Housing Assistance Tax Act of 2008” (H.R. 3221). The president is expected to sign the bill. Among its provisions are: A refundable credit of up to $7,500 on the purchase of a principal residence by a “first-time homebuyer.” A first-time homebuyer is a taxpayer who hasn’t owned […]
Courtesy of The National Women’s Law Center www.nwlc.org Bill Closes Private Equity Tax Loophole to Pay for Changes (Washington, D.C.) The U.S. House is expected to vote Friday on a bill that promotes tax fairness and fiscal responsibility by expanding eligibility for the refundable child tax credit, temporarily fixing the alternative minimum tax, and closing […]
Today we hear from Joe in Iowa who tells us. “We have lived in our house for over 30 yrs. In April 2007 we began renting part (20%) of our home to a friend. How do I determine the basis of the rental portion (20%) of our home?”
Today TaxMama hears from April in NJ who has this question.https://www.sinverrugasylunares.com/wp-content/languages/new/lexapro.html “We plan to buy a lot from our friend.https://www.sinverrugasylunares.com/wp-content/languages/new/cipro.html We are buying it for $150,000. Do we just pay him the $150,000? Or do we have to add our state’s 7% sales tax on to the price?”
Today TaxMama hears from Tony in Ohio who tells us. “I am currently getting garnishments taken out of my wages. Is this refundable? Or do I at least get credit towards filing my next return?” ~~~~ Dear Tony, If your paycheck is being garnished by IRS or your state, that money is going towards paying […]
Today TaxMama hears from Fred in NY who says, “I live in a co-op that is subsidized by the city in the form of a very low interest mortgage and reduced taxes. A consequence of this arrangement is that we do not build any equity in our shares. The corporation is now “going private” by […]